An EMVmaximizing sports promoter must decide if he should insure an event (\"Rockies game\") against rain. If no rain, he makes $20,000 from net sales. |f rain, he makes only $2,000 from net sales. The insurance policy costs $5000. The insurance policy pays him $20,000 if it rains, else $0 a}How large must p= probability of rain be for him to buy insurance? (Find the smallest such value of p, the "breakeven" probability) p > (Answer rounded to two decimals. e.g: 0.12) b)|f p = 0.8, what is the most he should pay for the policy? (Answer: Enter value e.g: 1000, 1500, 2000..) c)Before deciding whether to buy insurance, what is the most he should pay for a weather forecast(rain or not) if it has a 75% probability of being right? Assume p = 0.8. (Answer: Enter value)